Metis Global Partners LLC Acquires 82 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Metis Global Partners LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,393 shares of the company’s stock after acquiring an additional 82 shares during the quarter. Metis Global Partners LLC’s holdings in MercadoLibre were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Curi RMB Capital LLC bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $330,000. Aubrey Capital Management Ltd raised its stake in shares of MercadoLibre by 0.6% in the third quarter. Aubrey Capital Management Ltd now owns 13,788 shares of the company’s stock valued at $28,292,000 after acquiring an additional 80 shares during the period. Planning Capital Management Corp lifted its holdings in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of MercadoLibre by 976.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 140 shares of the company’s stock worth $287,000 after purchasing an additional 127 shares during the period. Finally, KBC Group NV grew its holdings in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 2.8 %

Shares of NASDAQ MELI opened at $1,876.20 on Friday. The stock has a market capitalization of $95.12 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock’s fifty day simple moving average is $2,042.97 and its two-hundred day simple moving average is $1,837.63.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,269.67.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.